Actor Anushka Sharma-endorsed snack maker Slurrp Farm, a direct-to-consumer (D2C) company, has raised about Rs 60 crore or $7.2 million. The funding round was led by Alkemi Growth Capital, a healthcare and consumption-focused investor, along with philanthropist Narotam Sekhsaria’s family office.
Existing investors Fireside Ventures and Raed Ventures also participated in the round, along with Sharrp Ventures, an investment vehicle of Marico’s Mariwala family.
According to filings with the Registrar of Companies (RoC), both Alkemi Growth Capital and Madhurima International, an investment vehicle of Narotam Sekhsaria’s family office, invested Rs 17.5 crore each. D2C specialist investor Fireside Ventures contributed Rs 12.4 crore, while Raed Ventures, a Middle East and North Africa-focused venture investor, added Rs 5.5 crore.
In April 2022, Sharma became an investor and brand ambassador for Slurrp Farm, and Fireside Ventures emerged as the major shareholder with a 20.7% stake, followed by Raed Capital at 9.1%.
The startup offers a variety of products including porridges, cereals, puffed snacks for children, millet pancakes, millet dosa, and cake mixes. Its two brands, Wholsum Foods-Slurrp Farm and Mille, are available in 5,000 stores.
Founded in 2016 by Meghana Narayan and Shauravi Malik, the startup saw its revenue more than double in FY23 to Rs 42 crore. Narayan and Malik were nominees in the Woman Ahead category at the Economic Times Startup Awards 2022.
In the healthy foods category, Slurrp Farm competes with Open Secret, backed by Matrix Partners India, and Bangalore-based brand Soulfull, which offers breakfast cereal and millet-based snacks and was acquired by Tata Consumer Products in 2021.